Receivership

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Practice notes
Senior creditors will ensure that in addition to having higher security rights over junior creditors, juniors are also subordinated to them.Generally...
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9th Nov
Practice notes
A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...
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9th Nov
Practice notes
Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...
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Produced in partnership with Julie Lanz of Skadden Arps Slate Meagher & Flom LLP 9th Nov
Practice notes
The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) provide for a revised scheme for decision making in insolvency from 6 April...
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Produced in partnership with Richard Bowles 9th Nov
Practice notes
IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...
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Produced in partnership with South Square 9th Nov
Practice notes
DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee in bankruptcy (trustee) has the power to disclaim...
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9th Nov
Practice notes
One of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver, which cures a temporary...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
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This Practice Note looks at:•the key features of loan to value (LTV) covenants•possible issues with calling an event of default based on a LTV...
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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 9th Nov
Practice notes
The Court of Appeal has made it clear in JCAM that a moratorium cannot be obtained through the back door by filing a notice of intention to appoint an...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Nov
Practice notes
This Practice Note looks at equitable accounting, what it is, how and when it applies. It does not look at how the trustee in bankruptcy (trustee)...
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9th Nov
Practice notes
It is possible for a claim to be brought under section 423 of the Insolvency Act 1986 (IA 1986) against a company or individual following a...
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9th Nov
Practice notes
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 9th Nov
Practice notes
IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...
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Produced in partnership with South Square and BDO LLP 9th Nov
Practice notes
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Julie Lanz of Skadden Arps Slate Meagher & Flom LLP 9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov

Most recent Receivership content

Practice notes
This Practice Note:•outlines the main UK tax provisions that apply where a fixed charge receiver sells assets owned by a company, and•answers the...
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Produced in partnership with Anthony Davis and Julia Fox of Deloitte LLP 29th Nov
Practice notes
What is an administrative receiver?The Insolvency Act 1986 (IA 1986) sets out what an administrative receiver is as follows:•a receiver or manager of...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
Receivers—backgroundReceivers have been a recognised in English law as a remedy available to creditors and others wishing to protect their interest in...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
Steps prior to appointmentThe power to appoint an administrative receiver lies with the holder of a floating charge subject to the following:•the...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
Impact of appointmentThe effect of the appointment of an LPA/fixed charge receiver is very different from that of an appointment of an administrator,...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
This Practice Note has been archived and is not maintained.The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid before...
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Produced in partnership with Emma Knight of Three Stone 29th Nov
Practice notes
The receiver’s dutyThe duty owed by a receiver to a mortgagor when selling a property is the same as that owed by the mortgagee to a mortgagor:•in...
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Produced in partnership with Steve Innes of 4 New Square 29th Nov
Practice notes
This Practice Note covers the roles, powers, duties and liabilities of court-appointed receivers who are appointed pursuant to the Proceeds of Crime...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
This Practice Note considers the interaction between the statutory moratorium under Schedule B1 to the Insolvency Act 1986 (IA 1986), which prevents...
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Produced in partnership with Carolyn Jones 29th Nov
Practice notes
Statutory moratoriumThe appointment of an administrative receiver does not create an automatic statutory moratorium. As such, a company’s creditors...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
FORTHCOMING CHANGES relating to insolvency and tax: Finance Act 2020 introduces provisions where:•HMRC becomes a secondary preferential unsecured...
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Produced in partnership with John Baldry of Temple Tax Chambers 29th Nov
Practice notes
The appointment of a receiver is a remedy for creditors and certain third parties to protect their interest in assets of a company. The creditor will...
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29th Nov
Practice notes
Effect of administration order on LPA receivershipWhere a company is in administration, any receiver of part of the company's property shall vacate...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
When a company or individual is in financial difficulties, a mortgagee will commonly seek to enforce their security by appointing a receiver where...
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Produced in partnership with Amanda Eilledge of Hardwicke Chambers 29th Nov
Practice notes
Remuneration and expenses of a Law of Property Act/fixed charge receiverThe Law of Property Act 1925 (LPA 1925) enables a mortgagee of a legal...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
Brexit impactAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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29th Nov
Practice notes
Powers—generalThe statutory powers conferred on an LPA/fixed charge receiver are very limited and so for a receiver to exercise the duties which his...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
The appointment of an administrative receiver does not create an automatic statutory moratorium. As such, creditors are not precluded from commencing...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov
Practice notes
This Practice Note covers the procedural aspects following the appointment of a receiver in respect of an Isle of Man company or other corporate...
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Produced in partnership with Dougherty Quinn of Isle of Man Law Firm 29th Nov
Practice notes
Stop pressThis content is affected by the Companies etc (Filing Requirements) (Temporary Modifications) Regulations 2020, SI 2020/645, which came into...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 29th Nov

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